Avianca Holdings Continues Progress in Reorganization Process
Receives Final Court Approval to Protect Ongoing Operations
BOGOTA, Colombia, June 11, 2020 — Avianca Holdings S.A. (NYSE: AVH, BVC: PFAVH) (the “Company” or
“Avianca”) today announced that the U.S. Bankruptcy Court for the Southern District of New York recently granted final approvals for most of the Company’s “first day” motions to help ensure that Avianca continues normal
business operations throughout the reorganization process.
Among other things, the Court provided final approval for motions that will allow Avianca to:
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Maintain its network of customer programs throughout the process. Customers can continue to arrange travel and
fly with Avianca in the same way they always have. Additionally, Avianca customers will continue to accrue miles when they fly with Avianca, and can continue to redeem miles earned through
LifeMiles™ to purchase tickets with Avianca during this process.
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Honor various prepetition and ongoing obligations owed to certain of its travel agency partners, interline and
codeshare partners, and vendors and suppliers. The Company will continue to pay vendors and suppliers, as well as travel agency partners, in the ordinary course for goods and services provided on or after May 10, 2020.
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Pay accrued and ongoing prepetition taxes and fees, as well as insurance and surety bond obligations, as they
come due in the ordinary course of business.
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Anko van der Werff, Chief Executive Officer of Avianca, said, “We are pleased that
the Court has granted final approval for most of our ’first day’ motions, which enables us to continue moving forward in our reorganization process. These approvals reinforce our ability to continue operating through this process and
underscore our progress toward emerging as a highly competitive and successful carrier in the Americas. We look forward to continuing our productive engagement with key stakeholders and other interested parties and welcoming customers back to the
skies once travel restrictions are lifted. We remain steadfast in our commitment to connecting people, families and businesses, and we thank our stakeholders for their continued support.”
As previously announced, on May 10, 2020, Avianca and certain of its subsidiaries and affiliates filed voluntary petitions under Chapter 11 of the United
States Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of New York to preserve and reorganize Avianca’s businesses. LifeMiles™, Avianca’s loyalty program, is
administered by a separate company and is not part of the Chapter 11 filing. Avianca customer programs are continuing and customers can arrange travel and fly with Avianca as they always have. Avianca is committed to continue serving customers with
safe, reliable air travel as COVID-19 travel restrictions are gradually lifted.
Additional Resources
Additional resources for customers and other stakeholders, and other information on Avianca’s filings, can be accessed by visiting the Company’s
Reorganization website at aviancawillkeeponflying.com. Court filings and other documents related to the Chapter 11 process in the U.S. are available on a separate website administered by Avianca’s claims agent, Kurtzman Carson Consultants, at
www.kccllc.net/avianca. Information is also available by calling (866) 967-1780 (U.S./Canada) or +1 (310) 751-2680 (International), as well as by email at
www.kccllc.net/avianca/inquiry.
About Avianca Holdings S.A. (NYSE: AVH) (BVC: PFAVH)
Avianca is the commercial brand for the collection of passenger airlines and cargo airlines under the umbrella company Avianca Holdings S.A. Avianca has been
flying uninterrupted for 100 years. With a fleet of 158 aircraft, Avianca serves 76 destinations in 27 countries within the Americas and Europe. With more than 21,000 employees, Avianca Holdings had revenues of US$4.6 billion in 2019 and
transported 30.5 million passengers. On February 22, 2019, Avianca Holdings announced its corporate transformation plan consisting of four key pillars: 1) the improvement of operational indicators, 2) fleet adjustments, 3) the optimization
of operational profitability and 4) repositioning of non-strategic assets. On May 24, 2019, control of Avianca Holdings was assumed by Kingsland Holdings Limited, an independent third party of United
Airlines.